Whether we're talking about office equipment, the latest in software, or industrial machinery, there is no doubt technology is evolving at a rapid pace. It's essential to ensure that your employees are equipped with the latest tools to stay competitive in today's market.
One of the biggest challenges facing businesses today is how to attract and retain top talent. In fact, new research from SD Worx found that over half of UK employers (51.8%) say it’s never been more difficult to attract talent.
The importance of the latest tech to your staff
The truth is employees want to work for companies that invest in the latest technologies and provide them with the tools they need to perform their jobs to the best of their abilities. Working with legacy tech can be like working in the past, where an employee’s skills are wasted on admin tasks that technology has long since been able to handle on its own.
Providing your staff with the right technology not only helps to attract top talent, but it also helps to keep them motivated and engaged. But tech investment can also be expensive - especially for small and medium-sized enterprises (SMEs) with limited budgets or cashflow.
And this is where leasing comes in.
The latest tech, minus the upfront costs
Leasing technology allows you to get hold of the latest equipment without the high upfront costs associated with buying it outright. Technology is evolving at a rapid pace, and equipment that was state-of-the-art a few years ago may no longer be fit for purpose. And by turning to leasing, you can free up capital that can be invested in other areas of your business.
Leasing can help
This has a dual effect – firstly, the latest technology will empower your staff to work more efficiently and to a higher standard, supporting them in their day-to-day role. This not only improves your business, it also makes it more attractive to prospects.
Secondly, capital leasing frees up allows you to further invest in your employee experience. This will lead to higher employee engagement and less employee ‘churn’, or turnover. Research has found that low engagement teams see turnover rates 18-43% higher than in highly engaged workforces. And once an employee decides to leave, the cost associated with replacing them skyrockets.
Technology that evolves with your staff
Leasing technology also offers flexibility. Regardless of your industry sector, whether it's manufacturing, healthcare, retail, communications or services, as your business grows, your technology needs may change. Perhaps your latest investment in tech has made your team more productive, more profitable, and in turn, more attractive to new candidates. Suddenly, you’re a growing business with the need for more tech.
Leasing allows you to upgrade or downgrade your equipment as needed, without being locked into a long-term commitment. This means you can easily adapt to changes in your business without the worry of having to pay for equipment that is no longer needed.
Consider the new skills you'll need
This also applies to new skills and expertise, too. As your business grows, you’ll need new specialisms. Perhaps you need a web engineer or a software developer to come on board and add a new dynamic to your team. This individual will have their own software and hardware needs – and you can bet the tech will need to be cutting-edge. Leasing gives you the freedom to take on new tech for a set period, with the option to return or renew the equipment at the end of the lease.
So should you find yourself no longer in need of a growth specialism after the lease, you can always flex down, too.
People first, tech second
Equipping your staff with the right technology is essential to your business's success. Not only will it help you to support your existing staff, it will create a culture of innovation and improvement at your business that is sure to attract only the best talent to your organisation.
By leasing equipment rather than buying it outright, you can get hold of the latest and greatest technology without the high upfront costs. At GRENKE UK, we can help you to lease equipment you need to attract and retain top talent and stay competitive in today's market.
We understand that every business is unique, and that's why we offer a range of options to suit your specific needs. Our agreements are flexible, and we can tailor them to suit your business's budget and requirements. Whether you’re looking to lease a single laptop or an entire office's worth of equipment, we can help.
Transform your employee experience with leasing today.